Oregon Executives Report Business Trends for 2019

by Courtney LeCompte on January 14, 2019

in SalaryTrends

Money Plant

Nearly one hundred executives throughout Oregon recently provided their business projections for 2019 in the National Business Trends Survey. The preliminary results show a mixture of confidence and anticipated business challenges, with the majority of executives reporting optimism for the New Year.

Based on the survey results, prominent trends to watch for in 2019 are:

Economic Stability
Nearly 82% of Oregon executives are anticipating the U.S. economy to remain fixed or to improve in 2019.

2019 Business Trends Illustration 1

Increased Sales
71% of Oregon executives are projecting their 2019 sales to surpass sales results of 2018.

Top Business Challenges
When executives were asked to list their top three business challenges for 2019, nearly 50% of executives listed talent acquisition, 32% selected ability to pay benefit costs, and 30% listed ability to pay competitive wages.

Prospective Employees’ Priorities
Executives listed the top 5 most important factors prospective employees are looking for as:

  1. Competitive Pay (79%);
  2. Good Work Life Balance (74%);
  3. Flexibility in Work Hours (57%);
  4. Competitive Health Benefits (54%);
  5. Opportunities for Advancement (47%)

Most Challenging Job Groups to Recruit and Retain
Professional Staff (Non-Managers) were selected as the most challenging job group to recruit (44%), followed by Skilled Production Workers (43%). The most challenging job group to retain was also Professional Staff (30%), followed again by Skilled Production Workers (29%).

2019 Business Trends Illustration 2

Pay Strategies to Combat Recruitment and Retention Challenges
To combat recruitment and retention challenges, 31% of executives have implemented individual pay incentives, 31% offer year-end bonuses, and 30% provide employee referral bonuses.

The 2019 National Business Trends Survey provides executive level insight into current and projected national, regional, and local business trends. Visit SalaryTrends to learn more, or to purchase the full report.

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